Money Digest with Abie Buttar @md_with_ab

Bitcoin has been grinding slightly upwards for the past week. The price action doesn’t look impulsive but it’s characteristic of mid level consolidation that precedes a further extension of the one larger trend (up). Building momentum before springing above 100k? 👀📈

Bitcoin is testing major resistance right now. The trend line that has been the ceiling for the price of #Bitcoin in 2024 is being violated. Will this be a false breakout or a sign of more upside to come? As long as BTC holds above 60k, bulls look to be in control

Bitcoin has managed to make a new swing high, exceeding the peak set in August. However, when zooming out, the larger bearish pattern still does not look conclusively over. Breaking above the 72k high set in May should confirm that the bottom is in

Key level of 59,8k (last short-term swing high, followed by impulsive decline) identified for #bitcoin. As long as we’re below this, bears are in control. Break above this, bulls are back in town babyy

I think Bitcoin is about to go up. Thanks for attending my Ted Talk lol

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Could the huge rally in the S&P over the last 21 months really just be a rally in a larger bearish structure? Could the S&P be in the process of resuming the next declining wave in the bear market that technically began in January 2022?Here’s the case for it…

#Bitcoin looks like it may have just completed a flat correction. If this is the case, the pattern suggests that the next major move will be an impulsive rally that makes a new BTC all-time high . Making a new swing low would indicate bears are still in control

This was @DrButtar ‘s favorite setup to trade and he called it the 0-1-2-3 pattern. This suggests a sharp move to the downside could be ahead but if the S&P makes a new swing high, bulls will regain control. Which happens next?

Will the impending all-time high in the S&P prove to be just the start of an explosive run up in stocks or will it be a bull trap? Given the larger structure and the nature of the rally since October of 2022, I favor the latter

The S&P is in a spicy spot that is likely to throw off a lot of people. Here’s my breakdown of this choppy market and why I am still bearish, while noting where I will adjust my stance if the market breaks its structure

The S&P 500 is vulnerable to a huge decline over the course of the coming weeks and months unless it is able to make a new swing high above 4540. For now, I am bearish on all time frames

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The decline in the S&P could very well accelerate in the coming days and weeks. I am considering this a series of 1’s and 2’s down, which suggests the next major move will be a sharp decline. Breaking above 4461, the September 20th high would negate this forecast

While the nature of the decline since July 13th is unclear to me (whether it is impulsive or corrective) there does seem to be a decent possibility that the structure is complete. Looking for a retracement of the decline next. If #Bitcoin makes a new low, then the bears are back

The pattern in #Bitcoin is unclear. What is clear is that BTC traced at least a double zig zag from the 2022 low to April 14th. What isn’t clear is whether the entire upward correction is complete or if a countertrend correction has been forming since April 14th. Time will tell

While at the moment, US Stocks seem like they can’t do anything but go up, the larger pattern suggests that there is significant risk to the downside ahead. If the S&P makes a new all-time high, this analysis would become void

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Several different possibilities exist when looking at the current consolidation pattern in #bitcoin. When this is the case, it’s best to sit back and consider the various labelings and determine at what point each option becomes invalid. Then wait for confirmation and act

The S&P 500 looks like it’s on the edge of a cliff. Sentiment is extremely bullish, in some ways, more bullish than it was in January 2022. The technicals look overbought and exhausted and the pattern looks prime for a reversal. I’m wrong if SPX makes a new all-time high

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Looks like the final part of yet another zig zag may be under way. Expecting another 2023 high before the bear market rally tops out. Making a new swing low before making a new high would invalidate the current short-term count